Africa-Press – Eswatini. Eswatini’s economy continues to show steady progress, with private sector credit and foreign reserves recording strong growth in early 2026, according to the latest Central Bank Monthly Statistical Release.
Credit extended to the private sector increased to E22.9 billion in February 2026, reflecting a 2.5% rise month-on-month and 6.7% growth year-on-year. The expansion was supported by improved lending to businesses, households, and other domestic sectors.
Business lending remained the key driver, rising to E12.3 billion. Growth was recorded across major sectors, including manufacturing, construction, transport and communications, highlighting continued investment and economic activity.
Small and medium enterprises (SMEs) also strengthened their position, with credit increasing by 5.1% to E4.1 billion, accounting for 33.2% of total business lending. This reflects growing support for local enterprises and entrepreneurship.
Household credit rose to E9.5 billion, supported by increased demand for unsecured loans and vehicle financing, indicating improved consumer activity.
Meanwhile, broad money supply stood at E27.0 billion, showing a slight monthly decline but maintaining a 4.9% annual increase, a sign of overall financial stability.
The banking sector remained stable, with domestic liquid assets recorded at E9.2 billion, while the liquidity ratio stood at 34.5%. Interest rates were unchanged, with the discount rate at 6.75% and the prime lending rate at 10.25%, providing a predictable lending environment.
In a positive development, Eswatini’s gross official reserves increased to E10.9 billion in March 2026, marking a 14.2% monthly and 18.9% annual rise. The increase was supported by foreign inflows and exchange rate gains.
The country’s import cover improved from 2.2 months to 2.5 months, strengthening its capacity to meet external obligations.
Overall, the latest figures reflect a stable and improving economic environment, supported by growing access to credit, strong business activity, and enhanced external reserves.
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